DXC Technology (NYSE:DXC) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC lessened its position in shares of DXC Technology (NYSE:DXC) by 77.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 331,054 shares of the company’s stock after selling 1,131,468 shares during the quarter. River Road Asset Management LLC’s holdings in DXC Technology were worth $7,571,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Invesco Ltd. raised its position in DXC Technology by 9.5% in the third quarter. Invesco Ltd. now owns 17,080,376 shares of the company’s stock valued at $355,784,000 after purchasing an additional 1,478,484 shares during the period. BlackRock Inc. lifted its position in DXC Technology by 1.0% in the second quarter. BlackRock Inc. now owns 15,840,800 shares of the company’s stock valued at $423,266,000 after buying an additional 162,032 shares during the last quarter. Pacer Advisors Inc. boosted its stake in DXC Technology by 86.8% during the fourth quarter. Pacer Advisors Inc. now owns 8,234,245 shares of the company’s stock worth $188,317,000 after buying an additional 3,827,176 shares during the period. State Street Corp increased its position in shares of DXC Technology by 2.2% during the second quarter. State Street Corp now owns 8,103,448 shares of the company’s stock valued at $216,524,000 after acquiring an additional 176,003 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of DXC Technology by 0.6% in the 1st quarter. Geode Capital Management LLC now owns 5,008,256 shares of the company’s stock worth $127,965,000 after acquiring an additional 30,979 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors and hedge funds.

DXC Technology Stock Down 1.0 %

DXC stock opened at $19.79 on Thursday. The company’s 50 day moving average price is $21.07 and its 200 day moving average price is $21.95. DXC Technology has a fifty-two week low of $18.61 and a fifty-two week high of $28.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11.

DXC Technology (NYSE:DXC) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.77 by $0.10. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the previous year, the business posted $0.95 EPS. The firm’s revenue was down 4.7% on a year-over-year basis. As a group, analysts forecast that DXC Technology will post 3.03 EPS for the current year.

Insider Activity at DXC Technology

In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of DXC Technology stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $21.73, for a total transaction of $393,356.46. Following the completion of the sale, the executive vice president now directly owns 124,806 shares of the company’s stock, valued at approximately $2,712,034.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on DXC shares. Citigroup downgraded shares of DXC Technology from a “neutral” rating to a “sell” rating and dropped their target price for the company from $24.00 to $21.00 in a report on Wednesday, January 17th. Guggenheim started coverage on DXC Technology in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. downgraded DXC Technology from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $27.00 to $24.00 in a report on Wednesday, January 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 target price on shares of DXC Technology in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, DXC Technology currently has an average rating of “Hold” and an average price target of $23.20.

DXC Technology Company Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in the United States, the United Kingdom, rest of Europe, Australia, and internationally. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS).